PROS, a provider of AI-powered solutions that optimize selling in the digital economy, announced it has been named a Major Player in the IDC MarketScape for Worldwide Configure Price Quote (CPQ) Applications for Commerce 2020 Vendor Assessment.
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“CPQ applications have long been known as a tool to assist sales reps to sell the right product at the right time and for the right price, but modern B2B buyers are demanding more from CPQ application.”
Disruption is accelerating buyers’ shift to digital channels, changing the way businesses buy, sell and engage with customers. Sales teams must be equipped with insights to respond immediately and accurately how and when buyers needs and demands dictate.
According to the IDC MarketScape, “CPQ applications have long been known as a tool to assist sales reps to sell the right product at the right time and for the right price, but modern B2B buyers are demanding more from CPQ application.”1
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PROS strengths in CPQ cited by the IDC MarketScape include:
- Performance: PROS Smart CPQ includes a quoting engine that was designed to manage up to 100,000 quote line items with no performance degradation. The PROS Smart CPQ quoting engine reduces the time needed to create, analyze and manage very large quotes, bids or RFPs that involve complex, configurable products with thousands of lines and hierarchies based on product or market dimensions.
- Advanced pricing: PROS offers advanced pricing functionality, including the support of many pricing models out of the box, the ability to set pricing that moves with market indices, enabling buy-side price optimization, and support of dynamic pricing based on inventory/supply chain availability.
- Product road map: Customers interviewed by the IDC rated PROS above average when asked about product road map relevancy and how well it communicates features that are on its road map.
“PROS position as a Major Player underscores our deep understanding of current market needs and the strategic direction of our road map to improve sales effectiveness, leading to greater customer satisfaction and increased retention,” said Loretta Faluade, Solution Strategy Director at PROS. “With PROS Smart CPQ, sales reps find and tailor product recommendations, customize configurations, manage approvals and generate professional proposals to land the sale while delivering an experience their customers expect.”
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